Bloomberg’s Tara Lachapelle, Jim Polson and Joe Carroll report at least one sell-side research group has declared the embattled natural gas developer an attractive buyout target.SunTrust Robinson Humphrey Inc said that, “While a buyer would have to cope with seven joint ventures and $13.1 billion of debt, Exxon Mobil Corp. and Chevron may see a chance to scoop up the largest holder of onshore drilling leases before gas prices rebound, said SunTrust Robinson Humphrey Inc,” they write.
Meanwhile, Reuters’ Michael Erman reports this morning Chesapeake management will meet with its lenders this week to discuss its $9 billion to $10 billion funding shortfall.
An anonymous source told Erman it was “a regularly scheduled meeting”
“But the company is expected to talk about its plans and liquidity needs at the meeting,” the sources told Erman, at a time when it is under immense pressure due to low natural gas prices and governance problems.”
Natural gas prices were down 3 per cent this morning.
And as if all that wasn’t enough, the Spurs manhandled the Chesapeake CEO-owned Oklahoma City Thunder last night to go up 2-0.
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